Headlines
▌Musk mourns the death of DOGE prototype Shiba Inu KABOSU
Musk mourned the news of the death of DOGE prototype Shiba Inu KABOSU on social media, saying "Rest in peace."
▌JPMorgan Chase: Spot Ethereum ETF will be traded before the 2024 US presidential election
JPMorgan Chase said that cryptocurrency has become "an increasingly important political issue ahead of the 2024 U.S. presidential election," and the newly approved spot Ethereum ETF may begin trading before the November U.S. presidential election, citing the growing political significance of cryptocurrency. In addition, JPMorgan Chase also expressed its views on the FIT 21 bill, believing that the bill has a low chance of passing the Senate.
Quotes
As of press time, according to Coingecko data:
The latest transaction price of BTC is $68,656, with a daily change of +1.3%;
ETH's latest transaction price is $3718.81, with a daily change of -2.49%;
BNB's latest transaction price is $601.6, with a daily change of +0.22%;
SOL's latest transaction price is $166.78, with a daily change of -4.18%;
DOGE’s latest trading price is $0.1631, with a daily change of +2.74%;
XPR recently traded at $0.5357, with a daily change of +0.89%.
policy
▌U.S. Supreme Court: State and federal courts have sole jurisdiction over disputes regarding Coinbase sweepstakes promotions
The dispute resolution clauses in the user agreement of the cryptocurrency exchange Coinbase's DOGE sweepstakes promotion conflict with each other. Coinbase prefers to have arbitrators resolve financial disputes, while users prefer the courts to intervene. The two options are listed separately in the platform agreement. On May 23, the U.S. Supreme Court ruled that state and federal courts have sole jurisdiction over disputes related to Coinbase's sweepstakes promotion.
Blockchain Applications
OKX HK withdraws VASP license application
According to the official announcement of OKX, after careful consideration of the business development prospects, it decided to withdraw the license application of OKX HK. From May 31, 2024 (Friday), OKX will stop providing centralized virtual asset trading services to Hong Kong users in accordance with regulatory requirements. The relevant arrangement does not affect the withdrawal service, and users do not need to worry about the safety of their funds. After May 31, OKX will only support Hong Kong users to withdraw money.
▌Polygon Lianchuang: Blockchain protocol construction is a process that takes at least ten years
Polygon co-founder Sandeep Nailwal said on the X platform that building a blockchain protocol is a process that takes at least ten years. As a founder, you must be prepared to invest at least ten years of extreme effort and patience. Nailwal revealed that he has been working on the Polygon project for more than six years, but feels that it has just begun. He estimates that it will take at least five years to push Polygon to its set goals. Nailwal emphasized that he is ready to devote all his efforts to the development of Polygon.
Cryptocurrency
▌Ethereum Foundation: Working to address potential conflicts of interest
Aya Miyaguchi, executive director of the Ethereum Foundation, said the foundation is accelerating the development of formal policies to address potential conflicts of interest. Earlier, two Ethereum Foundation researchers disclosed that they received a "substantial" amount of token incentives from the EigenLayer project. Miyaguchi said on the X platform that the neutrality of the Ethereum Foundation is essential to fulfilling its role in the ecosystem. It is not enough to rely on culture and personal judgment to deal with such issues. The development of formal policies has been going on for some time, and this work will be accelerated and progress will be shared soon.
▌Analysis: The delay in the launch of Ethereum ETF may be conducive to the rise of Ethereum prices
Although the U.S. Securities and Exchange Commission (SEC) has approved eight Ethereum ETFs, including BlackRock and Fidelity, unlike the Bitcoin ETF, which was launched on the day of approval, these Ethereum ETFs may take weeks or months to officially trade. In this regard, many industry analysts said that the delay in the launch of the ETF may actually be conducive to the rise in Ethereum prices. Simon Peters, an analyst at eToro, pointed out that savvy cryptocurrency investors can now buy Ethereum in advance in order to profit when the ETF is officially traded and billions of dollars of funds potentially flow in. Brian Rudick, an analyst at GSR Research, also believes that the delay in the launch of the ETF is good news to a certain extent, because the previous unexpected approval by the SEC caught most people off guard, and the current delay gives the market time to brew expectations, which will help increase the inflow of funds in the early stage of the ETF launch, thereby driving up the price of ETH.
▌Dogecoin's market value exceeds that of China Minsheng Bank
After Elon Musk posted a message yesterday to mourn the death of DOGE prototype Shiba Inu KABOSU, the price of Dogecoin DOGE has risen. According to the latest data from 8MarketCap, the market value of Dogecoin has reached approximately US$23.54 billion, surpassing China Minsheng Bank (market value of approximately US$22.7 billion), SMIC (US$23.13 billion), and Bank of Ningbo (US$23.02 billion), and is currently ranked 909th in the global asset market value.
Important economic developments
▌The three major U.S. stock indexes closed higher
The three major U.S. stock indexes closed higher, with the Dow up 0.01% and down 2.33% this week; the Nasdaq up 1.1% and up 1.41% this week; and the S&P 500 up 0.7% and up 0.03% this week. Most of the popular technology stocks rose, with Tesla and AMD up more than 3%, and Nvidia, Intel, and Meta up more than 2%.
Golden Encyclopedia
What is a reentrancy attack in smart contracts?
In a smart contract, a reentrancy attack occurs when a contract externally calls another contract or function before completing its own state change. This allows the called contract to reenter the calling contract and potentially execute parts of its operations again, which can lead to unforeseen and frequent malicious behavior. For example, Contract A calls Contract B to send funds and then modifies its own state. Contract B's code may contain a callback function that allows it to reenter Contract A and potentially re-execute the transfer function before Contract A completes its state change. This would allow an attacker to obtain funds from the contract multiple times before completing the initial transaction.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and is not intended as actual investment advice. Please establish a correct investment philosophy and be sure to raise your risk awareness.
